Filing Flows › Hyperscale Data (GPUS) › Q3 2025
Hyperscale Data (GPUS) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 17, 2025
Hyperscale Data (GPUS) reported revenue of $24.3M for the third quarter 2025 (Q3 2025), -22% from a year earlier and -6% from the quarter before. Operating margin was -57.8%, net loss $13.6M (55.8% of revenue).
Hyperscale Data, Q3 2025: revenue $24.3M (-22% year over year), operating margin -57.8%, net loss $13.6M, operating cash flow −$17.8M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $24.3M | -6% | -22% |
| Operating profit | −$14.1M | — | — |
| Net earnings | −$13.6M | — | — |
| Operating cash flow | −$17.8M | — | — |
What changed
Revenue was $24.3M in Q3 2025, down 22% year over year and down 6% from the previous quarter. Energy was the largest line at 40% of revenue. Fintech lost $5.4M year over year (down 97%), 81% of the total change.
Gross margin was 25.8%, down 1.8 points from a year earlier. Operating costs exceeded revenue by $14.1M, an operating margin of -57.8%. Operating expenses fell 39% while revenue fell 22%. The fastest-growing cost line was Sales & marketing (+55%). The quarter ended with a net loss of $13.6M, narrower than the previous quarter's $17.3M loss. Minority interests bore $569K of it: to shareholders the quarter was a loss of $13.0M.
Operating cash flow was −$17.8M. Non-cash charges added back $4.8M of depreciation and amortization and $44K of share-based compensation. Working capital and other items used $9.0M. Capital expenditures of $2.8M exceeded it, leaving free cash flow of −$20.6M.
Questions
What was Hyperscale Data's revenue in the third quarter 2025?
Hyperscale Data (GPUS) reported revenue of $24.3M for the third quarter 2025 (Q3 2025), -22% from a year earlier and -6% from the quarter before.
Was Hyperscale Data profitable in the third quarter 2025?
Operating loss was $14.1M (-57.8% of revenue) and net loss $13.6M.
Source: Hyperscale Data 10-Q on SEC EDGAR.